Iran’s GNP increased by 4.8 percent in 2001

Rate Article:

Iran’s gross national product (GNP) increased by 4.8 percent in 2001 compared to a 5.2 percent increase in 2000, reported IRNA. Oil production and exports continued on their downward trend that was set off at the beginning of the year due to a recession in the global economy.

The country’s inflation rate dropped to 11.4 percent in 2001 and 12.6 percent in 2000 from 20 percent in the year 1999. Foreign debts dropped by $780 million in 2001 and trade surplus stood at $5.3 billion.

With a population nearing 70 million, Iran’s inflation rate in 2002 is projected at around 12-14 percent and the economic growth rate is forecasted to reach 5.5-six percent. State spending is expected to grow by 14 percent over the year — (menareport.com)